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Fraud detection is a major challenge for merchants that accept electronic payments, acquirers that manage electronic payment networks and for banks that are exposed to various types of financial fraud including money laundering.

Which companies are impacted by financial fraud?

Banks and other companies that receive significant number of financial transactions are at risk of suffering from financial fraud. e-Commerce companies, credit card companies, electronic payment platforms, B2C fintech companies all need to employ software to limit financial fraud.Read more

Fraud Detection Companies Ecosystem

Tech giants

Tech giants like Experian are providing end-to-end fraud detection solutions. They have the advantage of having a large sales force and long term relationship with their customers and they have significant budgets to create competent solutions

AI Startups

Since 2000s startups are tackling various aspects of fraud. The first area of focus was to serve merchants which are easy to sell to as they are smaller e-commerce businesses. Later, with increased commercialization of AI, AI vendors started selling to merchants, acquirers and banks.Read more

Though simple deception techniques such as honeypots have been around since 2000s, new deception technology techniques make deception technologies an emerging area to invest in for additional security measures.

What is deception technology?

Traditional network security consists of a limited number of responses which include logging, rejecting, quarantining intrusions. While these responses can block individual attacks, actions such as rejecting are visible to the adversary. Skilled adversaries can learn from these responses, increase the sophistication of their attack and test their target’s defenses. Instead, when dealing with intruders, companies can also rely on their attacker’s greatest weapon: deception.Read more

Deception technology is a growing part of modern intrusion detection systems. See our article on deception technology to learn more. Read on to understand deception technology ecosystem and a comprehensive list of vendors.

Deception Technology Ecosystem

Incumbent security software providers

Companies like Symantec provide end-to-end cybersecurity solutions including solutions that include deception technology

Startups

Numerous startups have been launched since 2010s focusing on deception security.

Complete List of Deception Technology Vendors

* Date when tool was launched not the day the company was launched. This is because Symantec’s founding date is irrelevant when discussing their tool which provides features of deception technology.Read more

Banks exist to make credit scoring decisions. Key function of banks is to enable individuals and companies to make expenditures before they can afford them. They can not accomplish this key function without becoming a competent estimator of who will pay back and who will default.

Banks always relied on models and experts to make effective credit decisions. Now models are becoming sophisticated enough to replace experts. AI companies are stepping in to provide these models to banks so they can focus on serving their customers.Read more

AppliedAI

AboutUs

We democratize Artificial Intelligence.
We are building a transparent marketplace of companies offering B2B AI products & services. We allow companies to look beyond marketing speak, beyond huge marketing budgets to understand how they can use AI in their businesses and evaluate AI services objectively.